Among those affected are 39
Nigerian companies previously debarred by the African Development Bank (AfDB),
along with 19 individuals identified by the World Bank under the
cross-debarment policy?
The total number of debarments
now stands at 58, rendering the implicated entities ineligible to participate
in projects and operations financed by institutions of the World Bank Group.
The list which the World Bank
updates every three hours, contains a total of 1,210 companies and individuals
globally at the time of this report.
A debarment renders
firms/individuals ineligible to participate in projects and operations financed
by institutions of the World Bank Group.
According to the World Bank
report, the sanctions were imposed following an administrative process
conducted by the Bank, which allowed the accused firms and individuals to
respond to the allegations. This process adhered to the Bank’s procedures for
sanctions proceedings and settlements in bank-financed projects.
“Through July 2007, this
process was conducted in accordance with the Sanctions Committee Procedures
adopted on August 2, 2001. The process is currently conducted in accordance
with Bank Procedure: Sanctions Proceedings and Settlements in Bank Financed
Projects. For more information on the two-tier sanctions process go to Sanctions,”
it stated in the report.
Cross-debarment, as per the
Agreement for Mutual Enforcement of Debarment Decisions, was enforced in
accordance with the agreement dated 9 April 2010. This agreement has been made
effective by several international financial institutions, including the World
Bank, Asian Development Bank, European Bank for Reconstruction and Development,
Inter-American Development Bank, and African Development Bank.
Cross-debarment in accordance
with the Agreement for Mutual Enforcement of Debarment Decisions dated 9 April
2010, which, as of July 1, 2011, has been made effective by the World Bank,
Asian Development Bank, European Bank for Reconstruction and Development,
Inter-American Development Bank, and African Development Bank.”
In addition to debarment, the
Bank reserves the right to apply other actions to firms and individuals found
in violation of its policies, which may not necessarily result in debarment.
The prohibited conduct leading
to debarment is defined in the applicable Procurement or Consultant Guidelines,
as well as in the World Bank Procurement Regulations for Investment Project
Financing Borrowers. The specific guidelines may vary depending on the nature
of the project in question.
The World Bank’s actions
underscore its commitment to combating corruption and promoting accountability
in development projects, ensuring that funds are used effectively for the
benefit of the people.
Post a Comment